AutoZone, Inc. (NYSE:AZO) Receives $4,398.31 Average Target Price from Analysts

by · The Markets Daily

Shares of AutoZone, Inc. (NYSE:AZO – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the thirty-two research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4,365.3462.

AZO has been the topic of several recent research reports. Jefferies Financial Group restated a “buy” rating and set a $4,400.00 target price on shares of AutoZone in a report on Wednesday. Gabelli reiterated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Wells Fargo & Company reduced their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research note on Wednesday. Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Baird R W upgraded shares of AutoZone to a “strong-buy” rating in a report on Thursday, December 4th.

Get Our Latest Research Report on AutoZone

Insider Buying and Selling

In other AutoZone news, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the sale, the chief executive officer directly owned 55 shares of the company’s stock, valued at approximately $221,148.40. This represents a 97.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the sale, the senior vice president directly owned 416 shares in the company, valued at $1,570,400. This trade represents a 41.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,693 shares of company stock valued at $23,259,891 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raleigh Capital Management Inc. purchased a new position in shares of AutoZone in the 3rd quarter worth $26,000. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone in the third quarter valued at approximately $25,000. Saudi Central Bank purchased a new stake in shares of AutoZone in the first quarter valued at about $27,000. Global Trust Asset Management LLC increased its stake in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares during the last quarter. Finally, Aspect Partners LLC increased its position in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 0.8%

AutoZone stock opened at $3,440.41 on Thursday. AutoZone has a 52 week low of $3,162.00 and a 52 week high of $4,388.11. The stock has a market cap of $57.21 billion, a PE ratio of 23.99, a P/E/G ratio of 1.63 and a beta of 0.40. The stock has a 50-day moving average price of $3,838.77 and a 200 day moving average price of $3,894.94.

AutoZone (NYSE:AZO – Get Free Report) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the firm earned $32.52 EPS. AutoZone’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts predict that AutoZone will post 152.94 EPS for the current year.

AutoZone announced that its board has authorized a share repurchase program on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

About AutoZone

(Get Free Report)

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

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